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Search Results 0 to 26 of about 27 (some duplicates have been removed)
we are projected to the a big deficit below one of a trillion for the first time in five years. later, the mayor of san antonio and justified -- testifies on capitol hill about immigration policy. some of the automatic spending cuts delayed in december are scheduled to take effect next month. on the next "washington journal," we will talk about those cuts and program such as medicare and social security. severna, 40 5:00 a.m. eastern. our guest is from texas, and at 8:0020, a democratic congressman, henry waxman, of california, on efforts to combat climate change. your phone calls and tweeds, "washington journal," 7:00 a.m. on c-span. president obama announced his plan to avoid automatic spending cuts known as sequestration scheduled to begin march 1. it is including tax changes. the president spoke to reporters for just over five minutes. >> good afternoon, everybody. i wanted to say a few words about the looming deadlines and decisions that we face on our budget and on our deficit, and these are decisions that will have real and lasting impacts on the strength and pace of our recove
" is next. host: the federal deficit is expected to dip below one trillion. the news comes as republicans and democrats face a march 1 deadline to avoid billions in across-the-board spending cuts. the pentagon announced it will offer benefits to same-sex couples. in the senate is wrapping up work on the violence against women act. and the house will vote on a bill requiring the president to offer a plan to balance the federal budget in 10 years. good morning. we begin with your take on the leaked white paper from the white house just fine drone strikes on u.s. citizens overseas. nbc news reported on the memo monday night and it has gotten lots of reaction in washington. what are your thoughts? call -- we want to get your thoughts on social media as well on twitter or facebook. or send us an e-mail. we will get your thoughts in a moment. first, josh gerstein is joining us on the phone. here's your headline -- what was this memo? guest: this is a white paper that looks like it was derived from some confidential legal opinions that the opinions -- opinions that the justice department wrote t
advising, we can replace the sequester with a smarter strategy that is a more gradual deficit reduction plan. he's going disagree with the republicans on how to do that. he's going to want revenue to be part of it. republicans will say no thank you. >> we'll get the president if a minute and a half. white house gave us a two-minute warning. i would say it's a short-term for the president and the congress not doing what they're supposed to do pass a budget every year. the president set up the sequester, a fiscal negotiations -- >> this is not a natural disaster. >> it's not a natural disaster. >> man-made. >> many ways the president's late submitting his own budget but coming to the podium because though he's part of the mess he thinks he has the upper hand. >> right. i'm having a world is upside down moment. when you talk to house republicans they say to you, you know what? this may be the best budget cuts we can get. let the sequester take effect, even if it cuts the military, the secretary and defense, leon panetta saying that would be shameful. but you have a lot of house republicans
, the proposals that have been submitted to us will lead to a deficit, college. already in 2012, the budget has a deficit of 16 billion euros. we have to sacrifice and penalize thousands of students. what's the meaning of this? what's the point of this that members states, heads of state are just going to run a deficit? we are not going to go along with his, mr. president. there are rules and we will make sure they are respected, starting with article iii 10 which calls for a balanced budget. do i really have to remind you that this deficit system led to member states to the situation which we find ourselves today? it's a standing that member states are opposing something on the one hand, they are asking to strengthen our economic governance with a sixpack and with a sixpack and a two pack, and they're asking us to stop running deficits. but they want us to learn these bad habits all over again. we've got 960 billion commitments, and the same amount of payment. any direction of a company will tell you that's economic suicide, and it is too simple, mr. president, and you shouldn't hide behind da
were shown. finance ministry officials say the december current account deficit was $2.8 billion. the trade balance registered a deficit of about $6 billion. exports fell 6.9% while imports were up about 0.8% from the previous year. as a result, the ministry said the current account surplus for the whole of 2012 was down for two years in a row. now u.s. stock prices ended lower. the dow jones industrial average lost nearly a third of a percent to end the day at 13,944 on thursday. that's after poor productivity data as well as comments from the ecb president which sent the euro lower. for more and for how stocks are trading here in tokyo, we are going to ramin mellagard at the tokyo stock exchange. we have had two pull-backs. are we headed for another? >> it looks like it. the drop we have seen in trade appears like that. the 2% drop in productivity for the fourth quarter in the u.s. as well as those slightly taken as negative comments from ecb president mario draghi may have more bite. we are definitely seeing that in the opening levels. let's have a look at those. 11,247. less
instead of really dealing with the banks and dealing with the regional deficit overhang, he just created a circle of loop of help. so the government has been giving money to the regions, the banks to the regions and the government to the banks. but there's no real solution. the problems we main in spain. >> well, this is interesting. so, actually, michael brown was just talking about europe being somewhat of a closed economy. what you're talking about here in spain is this closed loop between the money that is getting in and borrowing. explain a little bit about this crazy looking chart here, flow chart, we should say, and this point that what happens in spain is staying in spain. >> this is a simplified chart of what has been going on. all the rectangular things are off balance. fade is the fund for utility financing. they're funded by the government. rajoy on the 31st of december increased the limit of these funds. frob and the bad bank are funding the banking system, the weak banks, including bankia. and the ffpp is a fund where banks have lent 30 billion to the region. on top of this
office says, forecasting a $845 billion budget deficit this year alone. though the first of less than a trillion dollars in five years. annual deficits continue to shrink until 2017 when interest and health care costs begin increasing deficits again. in the next 10 years, cbo says the u.s. will add almost $7 trillion to the national debt. the problem mostly? entitlements? the fix? painful. >> it is possible to keep tax revenues at that time their historical average percentage of gdp but only making substantial cuts relative to current policies in the large benefit programs that aid a broad group of people. >> now on the other side elmendorf says you can keep benefits the same but you've got to raise taxes substantially. let's go to the economic forecast here. cbo expects unemployment to average 8% this year and 7.6% next year, marking six straight years above 7.5%. that is the first time that happened in 70 years. as for growth, cbo expect as sluggish economy this year and growth to pick up next year. back to you. david: rich, all of these forecasts are subject to change. i haven't se
're brewed by starbucks. coming up next, how can washington solve the deficit and spur growth? "new york times" washington bureau chief david leonhard may have the answers, and he joins us live next. this happy couple used capital one venture miles for their "destination wedding." double miles you can "actually" use. but with those single mile travel cards... [ bridesmaid ] blacked out... but i'm a bridesmaid. oh! "x" marks the spot she'll never sit. but i bought a dress! a toast... ...to the capital one venture card. fly any airline, any flight, anytime. double miles you can actually use. what a coincidence? what's in your wallet? [ all screaming ] watch the elbows ladies. a talking car. but i'll tell you what impresses me. a talking train. this ge locomotive can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's the point of talking if you don't have something important to say? ♪ if you don't have something important to say? [ female announcer ] some people like to pretend a flood could
under. and the government that basically drove up the deficit and regional governments because region is very important in spain. also drove up this problem with big deficits. and there were not intended to. and so in each one of these you have somewhat of a different reason. the case of italy, a debt to gdp of over 120% and growing and the lack of action and trying to do anything about it by the former government once they came in as a technician, and by the way, technicians are great, but the amount of time is limited because they have no popular support. whether it be greece or italy. and as you know, the elections in italy, and we will see how he does, but you need popular mandates to get these changes really through. i am encouraged in the case of ireland. they're making good progress, getting back to the market, but there are still a lot of problems. the latest victim is cyprus. the banks held a lot of greek paper. they ran up the deficit there, and so they are the latest bailout case that we are going to see. but each country is different, and that leads to what is the same, an
the 10 percent pay cuts they accepted to help limit layoffs during record budget deficits. leaders indicated they would support modest raises but the police officers association argues that bigger raises are needed to keep officers from leaving the department. the union has called for opening negotiations to the public. >> the boy scouts of america board could vote whether to lit a long-term policy that excludes gay members and leaders. the executive board is wrapping up three days of meetings today at the headquarters in texas. the proposal would allow individual scout troops to decide how they want to address the issue, a conservative group in texas organized a prayer vigil this morning, and the organization is expected to issue a statement either way. >> the nasdaq could pay millions over the social media company facebook's botched initial public offering. the "wall street journal" reports that nasdaq is in talks with the government to pay $5 million in penalties which is only 1 percent of the money lost by brokers and investors. last may on the only of the facebook i.p.o. techn
job growth in january. >>> plus, the dutch finance minister warns of a worsening deficit this year, this after the government is forced to bail out local banks after a bailout of 3.7 million euros. >>> we kick off with the pmis out of the eurozone. january manufacturing pmi, 47.9. the flash 47.5, december manufacturing pmi was 46.1. it has boosted the euro to maintain its gaze, now back over to 1.3651 and continuing to climb high. that is now a 32-month high against the yen, as well, at 11.25965. the german manufacturing pmi was a little better, as well, this morning. helping to boost those numbers. we suggest that there's benefits from emerging markets rather than, perhaps, from elsewhere in europe. anyway, coming in better once again for the eurozone. still in contraction territory, but, of course, the trend is what is being concentrated on. we had similar indicators for two die verging views on china's recovery. eases to 50.4 for january, that was below the forecast of 5079 the. but a private survey showed growth at a two-year high. the final hsbc pmi up 52.3. which is an inch a
spending, investments in military power, reinvest it elsewhere. not so much cut the deficit, but use the money saved for his priorities, his domestic priorities. closer? >> yeah. >> okay. >> oh, no, i just want the mic back. closer to me. this is the problem with us having three mics, and i apologize. tom, i just want to push you on a question and then actually segway to fred to talk about the wars we theoretically can fight. part of the problem is the notion that we don't have wars that we want to fight, and that is in some ways an acceptable notion. a man who was elected as commander and chief, and he gets to make those decisions. the american people voted him into office, and in some ways the president is absolutely right to suggest that he has a mandate in these areas. the real question is the impact that these decisions have on the threat environment that the united states is in. for most of history, we don't talk about this very much, we have maintained a strong military not so that we can fight, but so that we cannot fight. and the other point i think that tom made and this is
this week. the ongoing debate over the rising debt and deficit and how to rein in government spending. here is a portion of the address. [video clip] >> i recently voted to present the democratic majority in the u.s. senate with a simple but powerful challenge. pass a budget, or you do not get paid. by forcing senate democrats to finally live up to one of the most basic responsibilities of governing, we are presenting them with a golden opportunity to confront and fall -- solve our spending program. we are holding president obama accountable for the sequestered cuts he first proposed in 2011. republicans want to replace the sequester, which is a series of harmful across the board cuts with better, common-sense cuts and reforms. all of this will require democrats to finally get serious about the spending problem. each of the last two years, the republican-led house has passed a responsible budget that addresses what is driving the debt to put our country on a path to prosperity. unfortunately, it has been for years some senate democrats last pass the budget. 1000, 375 days to be exact. -- 16
a chart yesterday that the deficit has already fallen from $1 trillion to $648 billion with the cuts they did in 2011. as far as taxes, they need to change the tax code. businesses need to pay their fair share. i get $22,000 in my civil service and social security. i paid $448 in taxes last year. i am 76 years old. i am barely surviving. host: you mentioned at the beginning that your daughter-in- law, where she employed with a company that depended on government financing? >> yes, some government contracts, so they froze things to try to save jobs and then last friday they laid off five people. -- they froze hiring. host: willie is with us on the line. caller: i look at it like this, when you have a drought, in order to break the drought, everybody has to pay for it. a storm, you have to have a hurricane or a tornado to break a drought. some people are going to get flooded out. so i hope that it will go through. let it do what it is supposed to do and get this stuff straightened out. everybody's looking out for themselves. i worked for general motors. the only thing that got general
and deficit. to put a plan in place. it's not just because we want to send a signal to the markets that washington's getting its act together. that's true. and that's a good result. but, it really is to help people. we don't want to see interest rates go up and the need for higher taxes. we don't want to see burden laid on the families, and individuals just coming out of school or seniors. we're trying to put us on a path to a growing economy, where there's more opportunity. >> but eric, you're still in a position of trying to sugarcoat a position of telling people that they are going to be getting less. that you're not going to make the same loans available, that this is a -- this is something that the president campaigned on very successfully. it's that situation. it's the immigration situation. are these different positions or this is just a new way of saying the same thing? >> look. what we're saying is our policies are the best path forward to help people in their lives. and the conservative principles of not spending money you don't have, of making sure that you put in place
the deficit under control. >> alan, talk to us about the context of the economy in light of that policy. do you think there's any risk that perhaps the fed might not step away from its policies in terms of buying assets soon enough? >> melissa, as you know, we have a long-standing practice of not commenting on the fed. the federal reserve board is an independent agency. so i'll respectfully decline. but i think what's important is that the administration and congress continue to make the steps to build a stronger economy, an economy that works better for the middle clags and helps put us on a path of a sustainable budget in a balanced way. >> let me put it another way, alan, then. do you think the economy is stronger than what wall street is forecasting right now? in the jobs numbers? >> i think the main risk we face right now is that congressional gridlock could prevent us from making a step we need to build a stronger economy, an economy that works better for the middle class. we are seeing improvements in the housing sector, since housing was ground zero for the financial crisis. i think
they have previously accepted to help limit layoffs during record budget deficits. city leaders indicated they would support modest raises but the police officer association argued bigger raises are needed to keep the officers from leaving the department. the union has also called for opening negotiations to the public. >> the boy scouts of america could vote soon on whether to lit a policy that excludes gay members and leaders at the headquarters in texas. the proposal would allow individual troops to decide how to address the issue. a conservative group in texas organized a prayer vigil for this morning. the organization is expected to issue a statement today either way. >> the nasdaq exchange could be paying millions over facebook's botched initial public offering. the "wall street journal" reports that nasdaq is in talks with the government to pay $5 million in penalties, only 1 percent of the money lost by brokers and investors. last may, on the morning of the i.p.o. technical problems delayed the trading of the facebook shares and the nasdaq is offering to compensate customers $62 m
, what is the surest way to create a more hopeful world for our children, how we will reduce our deficit, what kinds of tax plans will have, how we will make sure every child is getting a good every child, it is encouraging to me that you turned out so well by your mom not letting you watch tv. i am going to tell my daughters that when they complain. [laughter] in the midst of all these debates, we must keep that same humility that dr. king and lincoln, washington and all our great leaders, understood, is at the core of true leadership. a democracy as big and as diverse as ours, we will encounter every opinion, and our task as citizens, whether we are leaders in government or business or spreading the word, it is to spend our days with open hearts and open minds, to seek out the truth that exists in the opposing view, and find a common ground that allows for us as a nation, as a people to take real and meaningful action, tnd we have to do that, humbly, and we have to do it every day, not just at a prayer breakfast. i have to say this is now our fifth prayer breakfast, and it is always ju
a $16 trillion deficit, 51 million people on food stamps. our culture is an entitlement culture and yet we're going after 13 million people who have an immigration problem. hey, i'm all for vetting them. how about reverse discrimination for once in this country. if we're going to demand exceptionalism, we should have it towards the immigrants whether they come legally or illegally and also go back to americans who are u.s. citizens. >> are you talking about expelling americans? >> i'm all for demotion of citizenship. i agree with you. it may be extreme. but here's my point. how many of you. >> keep it short. >> how many of you have a trouble in a third world country and you come back to america and have a different experience about exceptionalism. what about reverse immigration? >> i do not support the deportation of american citizens but if that were to be a policy, what you would do is save hundreds of billions of dollars a year in the welfare state because immigrants are less likely to use welfare each when naturalized and americans who are poor. that's an interesting result of that.
to reduce the deficit. those cuts would take a bite out of military spending and domestic programs, including a 2% hit to medicare. danielle nottingham, cbs news, the white house. >>> president obama is planning a major overseas trip. for the first time since becoming president, mr. obama will travel to israel. it will happen in the spring. the president will meet with israeli prime minister benjamin netanyahu. reportedly as early as march. the two leaders have had a rocky relationship. the white house says the trip will be an opportunity to reaffirm ties between the u.s. and israel. president obama will also visit the west bank and jordan. >>> the military is poised to extend some benefits to same- sex partners of gay servicemembers. u.s. officials say they are likely to include health and welfare programs as well as access to on base stores and services 16 months after the pentagon revealed the ban on openly gay servicemembers. an announcement is expected in the next few days. >>> britain is one step closer to legalizing gay marriage. a bill th
in the right direction. but midway through that cut that back and went back to spending cuts and deficit reductions. critics say basically if they would have left it alone, if they would have left the economy alone it would have righted its own ship. the massive government spending of world war ii, that sucked a lot of people back into labor market at a terrible humanitarian cost got the economy back running. host: there have been some folks, part of the administration, part of the democrats that say infusing money and coming up with these stimulus projects will help get the economy going. is this a similar situation to what f.d.r. tried to do coming out of the great depression? guest: threrp definitely parallels between the stimulus law of 2009 and what f.d.r. wanted to do. one major difference was where the stimulus sort of relied on the private sector. they had is civilian conservation core. this time they've tried to put money into contracts that private firms will get and then hopefully hire private workers. i think the thing about the stimulus is i bet 80 years from now we'll be de
the deficit problem. there is no question about it. but i think when they look at this bill and understand what we are really facing, i do not believe that we will have a problem there. >> [inaudible question] [talking over each other] >> it is different great obviously, we have two different versions. the house has this attrition of the workforce that has been the component and we had a combination for every new positions, we had one and then two, and we can bind both so we are on the same page. the house proposal on the attrition and we have also added congressional papers on it as well for the civilian workforce. >> [inaudible question] >> i would certainly defer to others here and the chairman. there is a real urgency here. one of the reasons that the president and his administration during his campaign, they didn't actually want the law that requires you to notify workers that they may be laid off, essentially the department of labor says the defense employers didn't have to comply with that law, it's because they knew that once they understood the real implications of sequestration,
the spanish deficit and perhaps more difficult for him to ask for insensitive measures to stimulate the economy at the european level. there's a trend on twitter tweeting for the -- the contractions for rajoy reject and that's on the right very well the situation here in spain. since the case, the corruption case was reported by the newspaper a few days ago. rajoy lost six points in the opinion polls in approval ratings. he is now amid 24%. that being said, the leader, the socialist leader of the opposition remains in terms of rating. so even if there's a lot of pressure on rajoy, there's now not any alternative in shape. that's the reason why the worry in the market. that's the reason for the decline today on the ibex 35. >> stephane, thanks for that. the bond, is it driven by political uncertainty, of course, but the pmi is up this morning for spain, up 47. but the employment pmi, down to 42 and that's back from the low since this time last year. >> i don't like the numbers. if you'd asked me six months ago, i would have probably said possibility of spanish growth falling off the
in mind you are objective is to get the deficit below 20% by 2015. we are on track for that. we need to pay overtime allowances for agency workers and so on on new year's. the congress and the u.s. government operate differently than government here. the strategy with enough time to achieve that. there is a constant explanation to people as to how you intend to get the. we need european support. in that sense, the united states is such a huge country. with such potential. i believe that i think the united states also needs to look at the global positioning because of the impact on the world economy. >> thank you very much. i'm sorry that we are going to have to draw this to a close. i was hoping that the irish prime minister with a a message saying that if you could only get your act together and cure these problems, it would be so much better for europe and the world. but you are way too much of a diplomat for that. [laughter] >> thank you very much. i'm sorry we cannot take more questions. it's been a fascinating session. please join me in thanking the a >> there is no prescription
.s. citizens and quite the contrary. have you thought of doing something? we have a $16 trillion deficit, we have fifty-one million people on food stamps, our culture is an entitlement culture and yet we are going after a thirteen million people with an immigration problem. eyewall for vetting them. what about reverse discrimination? we are going to demand exceptionalism we should have it towards the immigrants when they come here legally or illegally and we shall so go back to americans who are u.s. citizens. >> are you talking about expelling americans? >> i'm for the notion citizenship. [talking over each other] >> i may be extreme but here's my point. how many of you -- [talking over each other] >> how many of you have traveled to historic countries? you come back to america you have a different perspective about exceptionalism. how about reverse immigration? >> i did not support the deportation of american citizens. i would say this. if that were to be a policy, you would save hundreds of billions of dollars in the welfare state because individual immigrant, likely to use welfare especi
Search Results 0 to 26 of about 27 (some duplicates have been removed)